Cannabis Products Global Market To Reach Value Of $46 Billion By 2025

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The cannabis products market consists of sales of cannabis products and related services. Cannabis is a psychoactive drug which is obtained from the cannabis plant of the cannabaceae family. Cannabis can be used for the treatment of various diseases such as chronic pain, cancer pain, depression, anxiety disorders, sleep disturbances and neurological disorders.

Global Cannabis Products Market Size And Drivers:

The global cannabis products market is expected to grow from $16.51 billion in 2020 to $18.37 billion in 2021 at a compound annual growth rate (CAGR) of 11.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cannabis products market is expected to reach $46.19 billion in 2025 at a CAGR of 25.9%. The growing applications of cannabis in the medical field is an important driver for the cannabis products market.

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Trends In The Global Cannabis Products Market

Solar cannabis cultivation is an emerging trend in the cannabis products market. As cannabis cultivation requires a large amount of energy for lighting, heating, air-conditioning, and dehumidification systems, cannabis products manufacturing companies are investing in solar cannabis cultivation. This is mainly a result of legalizing cannabis products in various states of the USA, which is continuously increasing the consumption of energy and leading cannabis manufacturers to opt for solar cannabis cultivation. For instance, Aurora acquired 71 acres of land in Medicine Hat, Alberta, and installed a high-technology hybrid greenhouse cannabis production facility.

Global Cannabis Products Market Segments:
The global cannabis products market is further segmented –
By Product Type: Flower, Concentrates, Others
By Usage: Medical, Recreational
By Compound: THC-Dominant, CBD-Dominant, Balanced THC & CBD
By Route Of Administration: Oral Solutions And Capsules, Smoking, Vaporizers, Topicals, Others
By Geography: The global cannabis market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Cannabis Products Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides cannabis products market overviews, analyzes and forecasts market size and growth for the global cannabis products market, cannabis products market share, cannabis products market players, cannabis products market segments and geographies, cannabis products market’s leading competitors’ revenues, profiles and market shares. The cannabis products market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.